Saturday, November 6, 2010

Extension of the Bush Tax Cuts

Today, Barack Obama finally embraced the idea of extending the Bush tax cuts.

Of course, the idea is conditional that the cuts do not go to people making more than $250,000 a year.

I disagree with the progressive tax system. Tax cuts should be across the board. If Obama cannot see this, then the new Republican House of Representatives should fight the current tax code and seek a single tax rate.

A progressive tax system such as the one we currently have, punishes people for doing better in life, stifles ingenuity and creates corruption.

Tax codes gets so cumbersome that even the current IRS Commissioner failed to pay his taxes.

Simplify the code, increase revenue and decrease tax fraud.

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